Think tank wants EU database to track hidden assets of sanctioned oligarchs

EU Tax Observatory says half of Russia's household wealth is held abroad, much of it concealed via offshore shell companies  

Roman Abramovich, the former owner of Chelsea FC, has been sanctioned by Western countries for his links to the Kremlin.

The EU should create a database to help to track down the owners of assets held by shell companies and make EU sanctions against Russian oligarchs more effective, a think tank has said.

The European Commission has imposed restrictions on 877 individuals, including wealthy Russian oligarchs and other prominent businesspeople over Russia’s aggression against Ukraine.